What do these numbers mean? To help understand what these numbers mean to our local markets we are now including the number of sold comps during the past 30 days or 1 month.  Looking at our sold numbers over the past month allows us to calculate a monthly absorption rate.  An absorption rate tells us how many months it would take to sell off our entire inventory should we have no new listings.  A balanced market is considered 6 months.

Seasonal Slow Down Taking Place

Seasonal Slowdown: Buyer activity has noticeably decreased as the holidays approach, with fewer new listings entering the market. Many stale listings are being withdrawn and will likely return in the spring. Year-over-year comparisons may appear skewed due to differences in the timing of Thanksgiving this year versus last.

Adapting to the Market: The current market continues to reflect a new normal, with no immediate return to the low interest rates or home prices of prior years. Practicing “radical acceptance” is key—acknowledging current conditions without resistance or judgment, and focusing on strategies that align with today’s realities.

Inventory Trends: Active inventory declined slightly compared to last week but remains significantly higher than this time last year. New listings have dipped slightly compared to the prior weekend but are well above last year’s levels. Pending transactions are also trending down week over week.

Odds of Selling: Sellers’ odds of successfully closing a transaction improved slightly last week but remain lower than historical averages during this cycle.

Showings and Time on Market: Showings experienced a small week-over-week decrease but are much higher than one year ago. Properties are taking longer to go under contract, giving buyers more time to make thoughtful decisions.

Pricing and Reductions: Price reductions continue to be a factor, with a majority of units under contract reflecting some adjustment. However, the average size of reductions has decreased, signaling a tempered approach from sellers.

As we approach Thanksgiving weekend and the start of the holiday season, expect fewer new listings, more withdrawn inventory, lower contract activity, and longer market times. These trends are typical for this time of year and underscore the importance of helping clients navigate the market with realistic expectations.

Wishing you and your loved ones a safe and joyful Thanksgiving. I look forward to seeing you soon at First American’s closing tables

Special thanks to Megan Aller with First American Title for the market stats/narrative.

The post Denver Metro 6 County Inventory Count appeared first on NeXstep Real Estate Group.

Our annual shoe drive was a huge success in 2023.  With your help we are proud to have collected 698 pairs of shoes.  Thanks to all our great clients and wonderful neighbors who helped us collect shoes for Soles4Souls! Thank you so much for your support.  We will be back in 2024 and will once again look for your help to support this great cause!  Contact your favorite NeXstep Realtor if you have any questions.  Thanks again!!

HERE’S HOW YOU CAN HELP:
Collect your used shoes for our 2024 shoe drive and help support people in need,  both locally and internationally. All sizes, styles & types of shoes are needed for men, women & children.  For more information on Soles4Souls and to learn more about this great organization CLICK HERE…

CONTACT US FOR SHOE PICKUP
Simply contact us and schedule a pick up during the month of April 2024.  Leave your donated shoes on your front porch and we will come pick them up!  It’s that easy…

The post Thank You 2023 Soles4Souls Shoe Drive! appeared first on NeXstep Real Estate Group.

Five Star Real Estate Agent Award – Exclusive recognition of area real estate agents.

Denver, CO – Ryan Sondrup wins the 2023 Five Star Real Estate Agent Award! Five Star Real Estate Agents represent those who are outstanding in their field.  Winning Professionals are selected as a result of a rigorous and objective research process. For any market, each year’s field of winners represents no more than 7% of agents within the market. For more information please go to www.fivestarprofessional.com

“Thanks again to my clients for your continued support and recognition for the 13th straight year as a Five Star Real Estate Agent. Building a business based on client referrals, I’m truly humbled by your support. You have been the driving force behind my company’s ongoing success, from the mountain resorts to the Denver metro market. More to come in 2023!” Said Ryan Sondrup of NeXstep Real Estate Group.

The 2023 Five Star Real Estate Agent award winners have been carefully selected for their commitment to professional excellence and overall client satisfaction. The award is based on rigorous research with significant focus on customer feedback and providing quality services.“Five Star Professional’s research is extensive, with more than 10 million consumers, peers and other stakeholders contacted each year. We are relentless in our efforts to identify those professionals with the utmost standard of excellence,” Jonathan Wesser, Research Director, Five Star Professional.

Raised in Colorado, Ryan Sondrup boasts a passion for all aspects of nature and Colorado’s exquisite great outdoors. He translated that life-long reverence to his profession of bringing the outdoors to others through NeXstep Real Estate Group. Ryan handled special events at the University of Wisconsin Athletic Department including game day production and national touring concert series before returning to Colorado’s Impact Productions, a special events management firm that promotes national and international programs from its Denver headquarters. A graduate of the University of Wisconsin with a dual degree in Marketing and management/human resources, obtained his education through an athletic/academic scholarship. Ryan graduated from the University of Denver Daniels School of Business in with a Master of Science in Real Estate.

Five Star Professional conducts in-depth, market-specific research in more than 45 markets across the United States and Canada to identify premium service professionals.  Five Star Professional contacts thousands of recent homebuyers to identify award candidates. Phone, mail and online respondents rate their real estate agent on 10 satisfaction criteria. Candidates with a qualifying client satisfaction rating move on to be evaluated on objective criteria such as experience, production levels and disciplinary and complaint history. Real estate agents do not pay a fee to be considered or awarded. For more information, visit www.fivestarprofessional.com.

CONTACT INFO
Ryan Sondrup
www.neXsteprealestate.com
ryan@nexsteprealestate.com
303-398-7012

The post Ryan Sondrup of NeXstep Real Estate Group Wins 2023 Five Star Award appeared first on NeXstep Real Estate Group.

Realtor Group Holds Eleventh Annual Diamond Circle Awards Celebration, March 31st at the Hyatt Regency DTC!

Centennial, Colo. – March, 31, 2023 – Ryan W Sondrup, a leading REALTOR® with NeXstep Real Estate Group, has been recognized by the South Metro Denver REALTOR® Association (SMDRA) with the 2022 Diamond Circle Club Award for Individual Residential Sales – One Carat. SMDRA hosted its tenth annual Diamond Circle Awards at the Hyatt Regency DTC on Friday, March 31, 2023.

In order to become a One Carat – Individual Member of the Diamond Circle Club, a REALTOR® must have produced between $3-$6,999,999 million in volume or completed between 20-29 transactions.

“We are pleased to present Ryan with the Diamond Circle Club One Carat Membership for 2022,” said Janet Marlow, 2023 President of SMDRA. “ he has demonstrated a sincere dedication to the real estate industry during unprecedented times through dedication, perseverance, and selfless customer service, achieving success regardless of market conditions. We are proud to have Mr. Sondrup as a member of our association.”

SMDRA is a non-profit trade association that provides real estate professionals with the resources they need to help them grow and prosper in the highly competitive real estate business.  A real estate agent is a REALTOR® when he or she is a member of the local, state, and National Association of Realtors, NAR, The Voice for Real Estate and the world’s largest professional association. The term “REALTOR®” is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS®, subscribes to its strict Code of Ethics, and holds themselves to a higher standard of business from other licensed agents in the real estate industry. Only real estate licensees who are members of the REALTOR® Association are properly called REALTORS®.

Master of Ceremonies for the Diamond Circle Awards was Scott Peterson, General Council with Colorado Association of REALTORS®. This event also featured a mobile platform Silent Auction with items donated by SMDRA members and local businesses, with proceeds going to benefit SMDRA REALTORS® Care Foundation.

For more information on real estate services from Ryan Sondrup, check out www.SondrupRealty.com. For more information on SMDRA, visit www.smdra.com.

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The post NeXstep’s Ryan Sondrup Garners Prestigious Sales Production Award appeared first on NeXstep Real Estate Group.

Our annual shoe drive is back and we are looking for your help to support this great cause!  Contact your favorite NeXstep Realtor before April 28th and give your old “Soles” a new life.

HERE’S HOW YOU CAN HELP:
Donate Your used shoes to people in need,  both locally and internationally. All sizes, styles & types of shoes are needed for men, women & children.

CONTACT US FOR SHOE PICKUP
Simply contact us and schedule a pick up.  Leave your donated shoes on your front porch and we will come pick them up!  It’s that easy…

About Soles4Souls
Donating your used shoes can make a world of difference.  Whether they’re new or gently-loved, donate your shoes to protect the planet and help lift people out of poverty.  To learn more CLICK HERE…

DEADLINE: WED, APRIL 28TH

The post Give Your Old “Soles” A New Life! appeared first on NeXstep Real Estate Group.

REALTORS® who receive the CRS Designation have completed advanced professional training and demonstrated outstanding professional achievement in residential real estate. Only 29,000 REALTORS® nationwide have earned the credential.

Home buyers and sellers can be assured that CRS Designees subscribe to the strict REALTORS® code of ethics, have been trained to use the latest tactics and technologies, and are specialists in helping clients maximize profits and minimize costs when buying and selling a home. In addition, with NeXstep Real Estate Group’s personal attention to detail and specialized buy/sell real estate commissions, helps ensure clients the maximized real estate experience when buying and selling their next home.

Ryan Sondrup, is the managing Broker/Owner of NeXstep Real Estate Group and a member of the Summit, Denver Metro, and South Metro Association of Realtors. Ryan has also been recognized as 3 Carat Member of the 2021 SMDRA Diamond Club, 2021 DMAR Excellence Award Winner, and Five Star Real Estate Agent Award Winner 2011-2021.

“Education has been the cornerstone of NeXstep Real Estate Group.  I’m looking forward to providing my clients with my added knowledge and training from my CRS designation,” said Ryan Sondrup.

Ryan W. Sondrup, CRS, GRI
NeXstep Real Estate Group
303-398-7012 Denver Metro
970-368-4710 Summit County

The post Ryan Sondrup Has Been Awarded the Certified Residential Specialist Designation appeared first on NeXstep Real Estate Group.

Happy New Year! It’s time to look back and ponder what happened over the past year and look ahead to set goals and make predictions for the new year. Let’s start by looking at the top three things we know about the Denver metro real estate market in 2019:

1. Inventory continued to be scarce. The Denver metro area saw a significant increase in homes for sale in 2018, up 44.71 percent from 2017. That prompted talk of recession and fears of another housing crash. But at the end of 2019, that pile of inventory shrunk. We ended the year with 9.68 percent fewer homes to choose from year over year. The main reason we saw fewer choices was not because more were going under contract or selling, but because 29.94 percent fewer new listings came on the market in December compared to the month prior.
2. Considering the average rate of sales, it would take only 1.13 months to sell all detached homes and 1.37 months to sell all attached homes in the Denver area. For perspective, in January 2010 we had 9.8 months of attached home inventory and 9.8 months of detached home inventory. Anything under four months means sellers have the power in negotiations, while more than five months means buyers have control. We have started 2020 with sellers firmly in control.
3. There was an increase in the average number of days it took to sell a home in 2019. For three years it took an average of 26 days to sell. This past year it jumped up 19.23 percent to 31 days. That spooked a lot of sellers who had been hearing about their neighbors’ homes getting multiple offers in the first few days on the market. When that didn’t hap­pen, sellers started dropping their prices.
4. Despite more price reductions, home values continued to go up. Not at eight to nine percent like we saw earlier in the 2010s, but up nonetheless. The average close price in 2019 was $486,695 – that’s 2.85 percent higher than in 2018. If you take a longer look back to get more perspective, you’ll see what a fabulous investment real estate is in the Denver metro area. The average residential close price increased 87.82 percent from 2010 when it was only $259,084.

2020 Predictions…

The great thing about sales data is that it looks at what we know happened and then we can compare it to years past to get perspective. We hope by doing that we can come up with a prediction of what will happen in the future. But when we look at the future, even if the data helps us make an educated guess, it is still a guess.

Affordability will continue to be an issue in the Denver metro area as the cost of land and new construction increased with our home prices and most salaries didn’t keep pace. Buyers will continue to want more and more as they pay more and more. Sellers are going to have to do more to get their homes in tip-top shape to get top dollar. And  we are starting the new year with low inventory, low interest rates, a strong job market and a steady economy, we predict we will see continued long-term gains in real estate. Bring it on 2020!

2020 Copyright All rights reserved to Denver Metro Association of REALTORS

Click Here To View Full Reports

The post Greater Metro Denver Market Review appeared first on NeXstep Real Estate Group.

Denver, CO, August 30, 2018 — NeXstep Real Estate Group, a locally owned real estate company that specializes in the sales and marketing of residential properties in the Greater Metro Denver & Northern Colorado area, welcomes CO Real Estate Broker Matt Walker. Matt loves all the diversity and the amenities that NeXstep has to offer and looks forward to helping his clients reach their real estate goals.

“We are so excited and thankful to have Matt on our team here at NeXstep Real Estate Group,” said Ryan Sondrup, Managing Broker at NeXstep Real Estate Group. “His excellent customer service, business background, and experience will make him an excellent realtor.”

NeXstep Real Estate Group has achieved success in assembling one of the region’s most experienced sales teams. Utilizing a customer centric model, the group continually strives to offer clients the most up-to-date resources, ensuring outstanding results.

The post NeXstep Real Estate Group Welcomes Colorado Real Estate Broker, Matt Walker appeared first on NeXstep Real Estate Group.

From all of us at NeXstep Real Estate Group we want to thank you for participating in our Soles4Souls shoe drive.  This year with your help we collected a record 734 pairs of shoes!

Did you know; It’s estimated that 21 billion pounds of textile waste is dumped in landfills every year. That makes up more than 5% of all municipal waste generated every year.  Since 2006, Soles4Souls has diverted 42 million pounds of shoes and clothes from landfills and instead created meaningful economic opportunities and helped provide new shoes for those in need around the globe.

We are so fortunate to have friends and clients who support our efforts.   We look forward to this annual tradition and just want to say thanks!

The post Thank You – 732 Pairs of Assorted Footwear Collected! appeared first on NeXstep Real Estate Group.